Hertz bankruptcy creates huge stock of bargain-priced used cars

The VW Golf is one of the many models sold with a big reduction via Hertz.

Emme Hall / Roadshow

Hertz officially filed for bankruptcy in late May, citing the cataclysmic impact of the coronavirus pandemic on rental car demand while Americans stay at home and avoid traveling. Now the car rental company continues to unload a significant number of its rental fleet. For those looking to save, there are some great deals.

iSeeCars has studied more than 20,000 used cars, trucks and SUVs that Hertz is currently selling, all with the goal of identifying the models that offer the greatest savings. Some cars are very typical models that you imagine for a rental fleet, but others are a little more shocking. The list also doesn’t include particularly old cars, as car rental companies strive to keep their fleets up to date for customers. Each car listed is from model year 2017 to 2019.

This is great news for those looking for a BMW 7 Series, because it’s Hertz’s best offer right now. The study showed that the company sells the luxury sedan almost 14% below the average market value for an average saving of $ 6,877. Right behind it is the Chevrolet Trax, which is $ 1,714 less than the average model shown.

A few other luxury cars are listed in third and fourth places. the Mercedes-Benz Class A and Infiniti QX50 complete third and fourth places with average savings of $ 4,252 and $ 4,145, respectively. Toyota’s full-size pickup, the Tundra, completes the top 5 with an average savings of $ 4,714, or 12.6% less than the average market value of the pick-up.

The last five include a number of additional pedestrian vehicles. the Nissan Versa Note is on average $ 1,375 cheaper than the market average. Buick Cascada Convertible is $ 2,241 cheaper and the Kia Forte comes close to $ 1,500 cheaper than the market usually demands. To complete the top 10, Volkswagen Golf ($ 2,023 less on average) and Nissan Quest minivan. Remember? The very Japanese family carrier is $ 1,810 cheaper than the market average.

the Hertz Rental Car Deals

Rank

Vehicle

% Average below market value

Average savings

Average price

1

BMW 7 Series

13.70%

$ 6,877

$ 42,680

2

Chevy trax

13.40%

$ 1,714

$ 11,196

3

Mercedes-Benz Class A

13%

$ 4,252

$ 28,555

4

Infiniti QX50

12.70%

$ 4,145

$ 27,760

5

Toyota Tundra

12.60%

$ 4,714

$ 31,383

6

Nissan Versa Note

12.40%

$ 1,375

$ 9,533

7

Buick Cascada

12.40%

$ 2,241

$ 15,564

8

Kia Forte

12.30%

$ 1,468

$ 10,851

9

Volkswagen Golf

12.30%

$ 2,023

$ 14,434

ten

Nissan Quest

12%

$ 1,810

$ 13,874

On average, used car buyers will find a vehicle 8% cheaper than its average value, probably thanks to Hertz’s resale method. It’s a good chance to save an average pocket savings of $ 1,389, according to the study, and the savings extend to other models like the Chevrolet Silverado, Cadillac CTS, BMW 5 Series and more.


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First published on June 10.

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